Description

Madrigal Pharmaceuticals’ $1.1 Billion Rezdiffra Run: Can MASH Penetration Accelerate?

Madrigal Pharmaceuticals reported net sales of $311.3 million for the first quarter of 2026, reflecting a year-over-year increase of 127%, driven primarily by the performance of its liver-directed therapy, Rezdiffra. The therapy has reached blockbuster status with over $1.1 billion in net sales over the past 12 months and more than 42,250 active patients by quarter-end, marking a 2.5-fold increase compared to the same period in 2025. The company highlights the early-stage nature of the MASH (metabolic dysfunction-associated steatohepatitis) market, which has expanded nearly 50% to 460,000 diagnosed F2/F3 patients under specialist care in the U.S. Despite these gains, diagnosis and penetration rates remain relatively low at approximately 10%, suggesting further market growth potential. Commercially, Rezdiffra benefits from a differentiated profile as an oral, once-daily therapy with no titration and broad efficacy across patient subtypes.